THE ANC YOUTH LEAGUE FULLY BEHIND PETRO SA EFFORTS TO ESTABLISH A NEW OIL REFINERY:
The African National Congress Youth League is fully behind PetroSA's development of a new 400 000 barrel-a-day crude oil refinery in Coega, despite the lame opposition from BP. In supporting this brave and courageous initiative by the State owned PetroSA, we reject and dismiss BP's attempts to oppose the establishment of the oil refinery. BP's opposition to the initiative is clearly informed by their obsession with profit maximisation, at the expense of the country's economic development. Whatever BP can say, their interests in South Africa do not coincide with those that seek to create more jobs for our people and build sustainable livelihoods.
The ANC Youth League's support for PetroSA's establishment falls squarely within the ANC Youth League's 23rd National Congress resolution that the State should play a significant and leadership role in the development of amongst others, minerals and petroleum industries. PetroSA's initiative will not only be useful for South Africa's industrial strategy, but gives practical meaning and inspiration to what State control and ownership of strategic sectors can do in the development and growth of the South African economy.
The oil refinery initiative and strategic leadership by PetroSA also dismisses the neo-liberal notion that State Owned entities are inherently incapable of innovations and therefore inefficient. It also inspires the movement towards Nationalisation of Mines, which will happen not in the distant future. The ANC Youth League's conviction is that State's guided intervention and leadership of all strategic sectors of the economy will go a long way in addressing South Africa's socio-economic challenges, particularly poverty and unemployment.
Statement issued by the ANC Youth League spokesperson Floyd Shivambu, February 26 2010
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